Answers By Expert: Research Team
The à declared under IDS but the taxes not paid. Notice U/s 148 issued. The declared amount vin Form 1 is treated as undisclosed income. Kindy guide how to proceed? Regards
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In respect of Excess Stock and Excess Cash Found during the course of Survey,Assessing Officer has invoked Section 115BBE.Whereas, Assessee has offered these Amounts for taxation under theHead-Business Income and paid the the Tax under normal provisions.Whether Assessing officer is right.
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What is status of HUF on death of it's Karta. The HUF was having 5 members 1. Karta 2. his Wife 3. Elder son 4. Younger Son 5. Younger Daughter. Wife of Karta is also expired & both sons are married & are karta of their own HUF. Whether elder son can become karta of HUF of his father, even though he is karta of his own HUF.
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How can a buyer ascertain whether a seller is having tax dues ? what is the liability of a buyer who has bought property from a seller having tax dues ?
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can a tenant adopt value as on 1-4 -2001 for indexation while surrendering rights ?
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Can AO invoke provision of section 270A just because tax at higher rate is applied by him u/s 115BBE and no addition to income is made on income declared is offered at normal rate ?
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Does provision of section 115BBE apply to income declared during survey for current year only?
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Mr A [resident of India ]went to USA on 11/12/19 and due to covid19, returned to INDIA only on 10/8/21. what is status under ITAX for both asst years ? BS
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Assessee is a charitable trust running a primary school. Assessee trust do not have registration U/sec.12 AA. His consultant has filed the Return of Income by mentioning incorrect number of registration U/sec. 12AA of the Act. Also filed application for registration. His application was rejected by the CIT on the ground of various defects in the financial statement submitted along with ROI and incorrect mentioning of Registration number. Notice u/sec.147 was issued . In response to said notice the assessee trust has filed the Return of Income where in all the errors in earlier Return filed were corrected and since…
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Assessee firm Made a declaration under IDS 2016 disclosing regular income for AY 2016-17. However, could not make payment 3rd installment. On the basis of invalid declaration of IDS , 147 notice for AY 2016-17 was issued and assessment was completed by considering the income declared under IDS -2016. Assessee filed an appeal against the said order and since appeal was pending , opted for VSVS and complied with all conditions and also received form 5. Again notice u/sec 147 is issued on 31.03.2020 for AY 2017-18 on the ground of invalid IDS declaration. Whether action of AO is justified…
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IDS declaration but taxes not paid